Zillow: Taking Social Media to a New Level

Zillow is taking social media to a whole new venture, allowing questions from its social media channels to be taken on its earnings call, a first for any company.

NEW YORK ( TheStreet) -- Social media has come a long way from the early days of Facebook ( FB) and Twitter. Zillow ( Z) is taking a new approach to social media, allowing its fans and followers to submit questions on the company's earnings call.

The online real estate company, which is set to report earnings May 7, is using social media to interact with its community, allowing Twitter followers and Facebook users to post their questions, which CEO Spencer Rascoff will answer on the earnings call. Twitter followers can use the hashtag #ZEarnings, and Facebook users can post questions to the company's Facebook page.

"Zillow was an early adopter of social media, and for me personally, Twitter is a preferred method of communication," Rascoff said in an email to TheStreet. "It made sense for us to expand our strategy to begin connecting even more with the investor community via Twitter, Facebook and our blog, and I'm looking forward to engaging with social media users during our call in a couple of weeks."

Zillow will also take traditional questions from analysts on the call. Analysts polled by Thomson Reuters are expecting the Seattle-based firm to report a loss of 3 cents per share on $37.39 million in revenue.

The company also announced that it will be posting material information to its Twitter, Facebook and blog outlets. This comes in conjunction with the recent announcement by the Securities and Exchange Commission that social media outlets are okay to post material information in compliance with Regulation FD.

Shares of Zillow closed the trading session up 1.08% to finish at $59.79.